College students rethink plans amid loan caps: US News

08/18/2025|Source Author|Breaking News

The passage of the One Big Beautiful Bill Act in July has prompted some college students to rethink their academic plans and career aspirations ahead of changes to the federal student loan program set for the 2026-2027 school year, according to a U.S. News & World Report survey.

The survey, published Aug. 18, is based on a poll of 1,190 college students conducted through PureSpectrum between July 31 and Aug. 4.

U.S. News said it sought to find out how students are faring amid the changes, such as updated borrowing caps for medical and law school students, the elimination of grad PLUS loans and adjustments to income-driven repayment plans.

Five survey findings, per the media company:

1. Most survey respondents (61%) said they will be personally impacted by the OBBBA, compared with 20% who said they won’t and 19% who answered, “I don’t know.”

2. A third of survey respondents (32%) said they’ll be impacted by the elimination of certain repayment options, such as the Biden-era Saving on a Valuable Education (SAVE) Plan.

3. Thirty-four percent of survey respondents said they weren’t aware of any of the changes that were part of the new budget law.

4. As a result of the OBBBA, 35% of survey respondents said they are considering cutting back on schooling, 38% said they are considering using a private student loan to help pay for college, and 32% said they may pursue a different degree/educational program.

5. Also as a result of the OBBBA, 31% of survey respondents said they may go to school in another country to finish their degree and 26% said they are considering joining the military for financial support to pay for school.